Vericel Corp. priced an underwritten public offering of 5 million common shares at $13 each.
The company expects to raise gross proceeds of $65 million through the offering which is expected to close by June 5. The funds will be used for general corporate purposes, as well as potential acquisitions.
Leerink Partners is acting as lead book runner for the offering, with BTIG LLC also a book runner. Ladenburg Thalmann is acting as co-manager.
The underwriters have a 30-day option to buy up to an additional 750,000 common shares on the same terms and conditions.
Cambridge, Mass.-based Vericel develops patient-specific cellular therapies for severe diseases and conditions.
